After losing out to its bigger rival Mahindra & Mahindra in the race to acquire South Korea's SUV maker SsangYong Motors, Kolkata-based Ruia Group has set up a special team solely dedicated to identifying new markets overseas for strategic acquisitions in the Southeast Asian belt. (Source: The Financial Express)

After acquiring 85% equity stake in International Consumer Products Corporation (ICP) in Vietnam, Marico is scouting for further acquisitions in the beauty and wellness domain in Africa, Asia and India.(Source: The Financial Express)

The Yash Birla Group which owned a 51 per cent stake in its joint venture with Birla Kerala Vaidyashala (BKV) today said that it has successfully acquired the remaining 48 per cent stake, leaving one per cent for its promoters, the Kurup family. (The Economic Times)

The country's largest lender, State Bank of India (SBI), will have to defer its fund raising as a cash-starved government, its majority shareholder, is unable to chip in money for SBI's planned rights issue of shares . (Source: The Economic Times)

Shalimar Paints, the 109 year-old Indian paints manufacturer, is up for sale. Promoters Ratan Jindal Group and the Jhunjhunwala Group — who jointly own 62.8% in the company — are planning to sell their entire stake. It is understood that Kansai Nerolac and Sherwin-Williams are in the race to buy Shalimar. (Source: The Financial Express)